Lunolux gets CCI nod for acquiring controlling stake in Forbes Enviro Solutions

The Competition Commission of India has given approval to the acquisition of a controlling stake in Forbes Enviro Solutions by Lunolux Limited.

The proposed combination pertains to the acquisition of controlling stake in Forbes Enviro Solutions Ltd (FESL) through the primary acquisition of up to 72.56 per cent stake and the subsequent acquisition of up to 26 per cent holding by way of an open offer.

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Presently, the firm is a subsidiary of Eureka Forbes.

FESL will house the health and safety business of Eureka Forbes Ltd, which is business of water purifiers, air purifiers, security solutions, vacuum cleaners and electric air cleaning systems.

"Commission approves acquisition of controlling stake in Forbes Enviro Solutions by Lunolux (Advent International)," the regulator tweeted on Tuesday.

In another tweet, the CCI said it has approved acquisition of up to 16.94 per cent equity share capital of IRB Infrastructure Developers by Bricklayers Investment Pte Ltd (GIC Investor).

The proposed combination relates to GIC Investor's proposed acquisition of up to 16.94 per cent of the share capital of IRB Infrastructure on a fully diluted basis and non-fully diluted basis, through the subscription of new shares issued by way of a preferential issue on a private placement.